Right Column
Excess Surplus (low-mod fund):
Each redevelopment agency's annual report on housing activity includes a calculation to determine whether excess surplus (and how much) exists. "Excess surplus" is defined as any unexpended and unencumbered amount that exceeds the greater of either (1) $1,000,000 or (2) the aggregate amount of tax increment deposited into the low-mod fund over the preceding four fiscal years (Health & Safety Code Section 33334.12).